Lincoln replaced it in 1931 with a modernized,
though dimension­ally identical, Model K that had a new chassis with torque-tube
drive, floating rear axle, worm-and-roller steering, and hydraulic shocks. The
K's V-8 retained the old L engine's "fork-and-blade" rods and
three-piece cast-iron block/crankcase assembly.

All models rode the same
wheelbases, and included a wide variety of semi- and full-custom bodies, the
latter supplied by Locke, Judkins, Brunn, LeBaron, Willoughby, Dietrich, and
others.

Prices ranged as high as $7,400, and three long-wheelbase
chassis -- 145/150/155 inches -- were offered. The K chassis was given over to the
V-12 Series KB of 1932. That year's V-8 Series KA chassis reverted to the L
wheelbase but retained the K's improvements.